With the growing traction and activities in Paytm, the mobile payment services firm is moving on the rolls of development. This time Paytm obtained its boards’ nod to raise $375 Mn. Post this round of funding, Paytm will be placed amongst the most valued startups in the Indian ecommerce space, next to online retailers Flipkart and Snapdeal and cab aggregator OlaCabs.
India’s largest ecommerce player, Flipkart has begun preparations to close its funding round of $550 Mn at a valuation of nearly $16 Bn. The funding is planned to be closed before the month-end with Tiger Global is leading the round with $100 Mn.
This week 12 startups raised approximately $12 Mn in funding altogether. (Calculations are based on startups that disclosed their funding amount.)
IndianRoots.com: NDTV’s ethnic ecommerce venture, IndianRoots secured $5 Mn in Series B funding round led by KJS Group valuating the company at $85 Mn. The fresh funding will be used to scale up the logistics and delivery mechanisms, expand its marketing activity with the aim to be the market leader in Indian fashion in the coming year.
Zapstitch: Bangalore-based enterprise startup raised $2 Mn (about INR 12.4 Cr) in pre Series A funding from Helion and existing investor Orios Venture Partners. The startup plans to infuse the funds to expand its offerings in the product line which are designed for data migration, data quality, and data validation.
Wassup: Chennai-based on-demand Laundry Service Startup raised $2 Mn Pre-Series A funding from apparel ecommerce firm Jabong’s founders Pravin Sinha and Arun Chandra Mohan. The startup has plans to add personal care, home care, car care, pet care and handyman services to its portfolio through its technology platform in the near future.